Warner Bros. Discovery, Inc. (NASDAQ:WBD) Shares Sold by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC lowered its stake in Warner Bros. Discovery, Inc. (NASDAQ:WBD) by 8.8% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 18,283 shares of the company’s stock after selling 1,757 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Warner Bros. Discovery were worth $151,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WBD. Sei Investments Co. raised its holdings in shares of Warner Bros. Discovery by 29.3% during the 1st quarter. Sei Investments Co. now owns 521,613 shares of the company’s stock worth $4,554,000 after acquiring an additional 118,278 shares during the period. Blair William & Co. IL increased its position in shares of Warner Bros. Discovery by 31.0% during the 1st quarter. Blair William & Co. IL now owns 83,664 shares of the company’s stock worth $730,000 after purchasing an additional 19,776 shares during the last quarter. TIAA Trust National Association increased its position in shares of Warner Bros. Discovery by 6.7% during the 1st quarter. TIAA Trust National Association now owns 27,735 shares of the company’s stock worth $242,000 after purchasing an additional 1,753 shares during the last quarter. Patten & Patten Inc. TN increased its position in shares of Warner Bros. Discovery by 21.6% during the 1st quarter. Patten & Patten Inc. TN now owns 23,661 shares of the company’s stock worth $207,000 after purchasing an additional 4,206 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Warner Bros. Discovery during the 1st quarter worth about $511,000. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on WBD. Barclays lifted their target price on Warner Bros. Discovery from $8.00 to $10.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Warner Bros. Discovery in a research report on Thursday, October 10th. Benchmark reaffirmed a “buy” rating and issued a $18.00 target price on shares of Warner Bros. Discovery in a research report on Friday, September 13th. Wolfe Research raised Warner Bros. Discovery from an “underperform” rating to a “peer perform” rating in a research report on Monday, November 11th. Finally, Sanford C. Bernstein downgraded Warner Bros. Discovery from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $10.00 to $8.00 in a research report on Tuesday, August 13th. Twelve investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $10.55.

Warner Bros. Discovery Price Performance

Warner Bros. Discovery stock opened at $9.22 on Monday. Warner Bros. Discovery, Inc. has a 12 month low of $6.64 and a 12 month high of $12.70. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.80 and a quick ratio of 0.80. The business has a 50 day simple moving average of $8.10 and a 200-day simple moving average of $7.88. The stock has a market capitalization of $22.61 billion, a PE ratio of -2.01 and a beta of 1.48.

Warner Bros. Discovery (NASDAQ:WBD) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.12. Warner Bros. Discovery had a negative return on equity of 27.56% and a negative net margin of 28.34%. The business had revenue of $9.62 billion during the quarter, compared to analysts’ expectations of $9.79 billion. During the same quarter in the prior year, the business earned ($0.17) earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. Equities analysts predict that Warner Bros. Discovery, Inc. will post -4.37 earnings per share for the current year.

About Warner Bros. Discovery

Warner Bros. Discovery, Inc operates as a media and entertainment company worldwide. It operates through three segments: Studios, Network, and DTC. The Studios segment produces and releases feature films for initial exhibition in theaters; produces and licenses television programs to its networks and third parties and direct-to-consumer services; distributes films and television programs to various third parties and internal television; and offers streaming services and distribution through the home entertainment market, themed experience licensing, and interactive gaming.